[closing bell ringing] david: real big pop for twitter. maybe that is why they're cheering on wall street, lori. lori: that was a big loud cheer behind nicole. david: look at stocks. we had a down arrow. a tick down on s&p. all others are up not by a lot. lori explained before. we have had a lot of moves up and down this day. it has been a wild day of ups and downs. when would think, lori, with the deal passed inside washington on the budget, perhaps the market would celebrate a little more. hasn't happened. makes you think washington is more irrelevant. lori: no, i think we passed that hurdle and now on to the fed. we'll get announcement as bob doll told me for sure. will it men fed tapering commenced or next year. wait and see mode, that is how i characterize it. david: the front page headlines are up next. coca-cola announced it would split the north american operations into two parts. the shake-up means the president

of coke's north american business is leaving the company. lori: qualcomm shares little changed following surprise promotion of chief operating officer steve mollenkampf in march. he is mentioned at possible ceo candidate for microsoft. so they wanted to lock him down. >> we got economic news as well. producer prices fell by .1% in november. this is the third straight month of declines. the big reason is the fall of gasoline prices since the sumer. >> time warner cable stock is high. we have reports that charter communications is preparing to send an offer letter to the company. reuters says charter plans to make a cash and stock offer at less than $135 per share. david: the full united states senate could vote to confirm janet yellen as chair of the federal reserve next week. both parties expected her to be confirmed so she can take over the fed's reins from ben bernanke in february. a lot of talk about that. lori: we're facing arrival of the biggest winter storm so far this year.

could dump as much a foot of snow in places and badly disrupt another holiday shopping weekend. "after the bell" starts right now. david: all right. we'll go back to the stock here. sprint working towards a bid for it. mobile. u.s. sources are telling us now, sprint bid for it. mobile could come in the first half of 2014. we are told. it is not too much, as you look at closing values here, the bid and the ask not too high over the closing values. coming down a little bit. the big pop was toward the end of the day. that is why what you're looking at is not too much of a differential between the close and the bid. lori: that is interesting, smaller players looking to team up. a little consolidation happening. we'll keep an eye on it. david: let's break down today's market action. sandy lincoln from bmo. chief market strategist. he is here to tell us the biggest risk to the market.

drew kenneally, is here to tell us the top way to play the market heading into 2014. phil strieble from the pits of the cme. i want too start with you. if this is the best the market can do to celebrate a budget deal i wonder if d.c. relevant at all, with respect to the federal reserve? >> last time we faced this type of budget crisis the fed didn't implement tapering when anticipated. now we have the budget deal in the works we will see the tapering come. it will be a lot sooner than later. everyone is looking for tuesday, wednesday, that guidance. will it be march or next couple meetings? i think that is what everyone is playing for. i think the proper way to position yourself is take a little bit off the board. we saw the s&p down 1 1/2% this week. lori: sandy to you, do you think the market positioned itself in a helpful way ahead of the fed next week with two weeks of declines? >> hard to know why the market

had this little bit of pullback. europe has had a little bit of pullback. we've had some. could be tax selling. people taking losses in the bond portfolio offsetting gains in the equity side of the equation. but if you look at macro picture, lori, i think it is a nice transition to 2014. i think taper is pretty much baked in. a question of what. consumer strong. retail sales were good. jobs numbers are up. consumer confidence is is up. corporate side of the equation is good as well. higher earnings than they were prerecision. operating margins at all-time high. so i think you have a nice platform to transition to 2014. i think the taper is sort of the elephant in the room but i think everybody expects it to be a matter not when, or if but when. david: drew, let's talk about the real economy for a second. get outside of just a wall street centric version of how the economy works. you're making a big bet on middle america which i love. explain why and how you're doing

that. >> so middle america the theme there is two major components would be labor costs and energy costs. so if you look at b-rate, skilled machinist labor or skilled labor in america versus coastal chinese labor, that b-rate labor is really moving close to on par. then you add the energy component which is not only very cheap here but quite abundant and high visibility, it is very easy decision for global ceos to begin moving marginal production to the u.s., indeed greenfield production to the u.s. so if you look at stock returns in 2013 it's no wonder they're u.s.-centric. they tend to center around a u.s. theme of global production, moving to middle america. and so that is where we positioned our portfolios for 2013. we're going to continue that theme on into 2014. lori: and sandy, you're making a bet on the continuing housing market recovery with one of your

stock picks today. >> that's right. i think the housing story is still a good story. it gets bounced around a lot obviously with taper talk. we have a company, wlh is the ticker, william lion homes. under the radar homebuilder. about the 14th largest in the u.s. the beauty of this company they own series of land in really premier marketplaces. great land in california, in arizona, in colorado, that they control at a very reasonable cost. they have a great backlog of homes on order. they have communities they're developing. they're getting good pricing strength and multiples affordable at 12 or 13 times forward earnings. it is not a big company. only 700 million or so in market cap. margins are expanding 22, 23% on the margin side of this equation. we think a nice balanced portfolio on starter homes and step-up homes. we think a name if you're looking for something on the homebuilder side of the equation in recovery of economy, we think wlh has a good opportunity to do

that for you. david: with all this good news i want to go for phil for a little dark cloud on the horizon. that is global demand. you see global demand beginning to stall a little bit, phil. tell us why and where you see that? >> we see it in several different areas. if you look at things like the oil market, we're seeing a big pullback in the u.s. is really become energy independent right now. just because the demand is slumped off so much we're seeing drawdowns out of oklahoma and out of cushing. we'll not see any big pickup in oil in the demand at all. just globally. you're starting to see opec. they're starting to slow down their production. libya will come back online. but the reality is, i think oil backed down, 90, down to$8 is right in the cards. lori: drew, back to the big picture here, how are you advising clients, these remaining two weeks of the year? >> well, you want to stay in this market. you want to add to your equity position. this is going to be the case through year enand on into the first quarter.

i do agree that at some point, probably halfway through next year, we're due for a significant pullback. that is your next opportunity to add to stocks, look for rotation or stories about a rotation from pond to stocks to begin. -- bonds. you barely earned your coupon back in what, 2012. 2013 you will lose money bonds. 2014 you will lose money in bonds. you will zerotation start to begin from bond to stocks and you will want to be long equity in the coming years. david: the grand rotation. we heard a lot about that. sandy, the fact is if indeed phil is right and there's a little pullback in demand not only pullback in the market but worldwide demand, why would you be for united rentals? this is a heavy equipment rental company. >> i think the story on the global demand is still getting wind in its sales. you have europe turning from negative to positive. you have got the emerging market countries i think will gradually

get more stablized and produce decent growth. i think if you believe the global demand story to be decent, not great, united rental, uri, is phenomenal king kong of rental equipment. people don't want to buy the equipment, they want to rent it. if they want scissor lift or forklift or aerial platform, this company is the dominant player. they have prices growing. david: let me interrupt you for a second here, sandy. actually if you believe there's a possibility of global demand pullback this might be the perfect company because you don't have to commit to buying something. you just rent it. >> that is exactly right. that is the theme coming out of recession. people are making exactly that choice. why buy the piece of heavy, trench digging equipment when you can rent it. this is the place where you rent it. they have the lion's share. they're only selling nine or 10 times earnings. the good point, stock is a heck after run. but multiple pretty attractive on wri. >> we're following breaking news out of the telecom industry. a huge merger. looks like reports from the ws

sprint is working, putting together a bid for it. mobile. sprint and t-mobile are the third and forth largest telecom companies. if this got regulatory approval you will have three players in the space. verizon, at&t, and combo of sprint t-mobile in that happens. there is 8.43. it is higher in the after-hours session. it's a busy year, right, david of all kind of ipos, deals, consolidation. drew, do you want to weigh in on these trend? >> i think you still want to look at the bigger picture. global leading indicators are turning up around the world. we're look for global growth rate of something close to 3.7% here next year domestically. 2.7, 2.9. much better numbers than we had this year. true the stock market is discounting a lot of that ahead of the case but it will be a good year. david: good stuff, guys. by the way the sprint deal could add up to $20 billion.

this is big money we're talking about. sandy lincoln, dru kenneally, and phil steel have a good weekend. lori: he has a long record of success. wilbur ross, chairman of w.l. ross & company. the legendary investor will tell us where he sees the bargains. what he thinks the fed will do next week. david: a big shake-up at mobile chipmaker qualcomm could affect the ceo reins at one of the world's biggest tech companies at microsoft. we'll bring you details what is next for both companies. lori: that takes us to today's facebook question. who do you think should replace steve ballmer as microsoft's ceo? log on to facebook.com/afterthebell and let us know. ♪ e [ male announcer ] once, there was a man

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see who does good work and compare costs. it doesn't usually work that way with health care. but with unitedhealthcare, i get information on quality rated doctors, treatment options and estimates for how much i'll pay. that helps me, and my guys, make better decisions. i don't like guesses with my busiss, and definitely not with our health. innovations that work for you. that's health in numbers. unitedhealthcare. every day we're working to and to keep our commitments. and we've made a big commitment to america. bp supports nearly 250,000 jobs here. through all of our energy operations, we invest more in the u.s. than any other place in the world. in fact, we've invested over $55 billion here in the last five years - making bp america's largest energy investor. our commitment has never been stronger.

just by talking to a helmet. it grabbed the patient's record before we even picked himp. it found out the doctor we needed was at st. anne's. wiggle your toes. [ driver ] and it got his okay on treatment from miles away. it even pulled strings with the stoplights. my ambulance talks with smoke alarms and pilots and adiums. but, of course, 's a good listener too. [ female announcer ] today cisco is connecting the internet of everything. so everything works like never before. david: moments ago we told but sprint that is working toward a bid for it. mobile u.s. there are a lot ever things have to be worked out. it is a 20 billion-dollar deal they would have if think work out regulatory issues. what do you have, nicole. >> regulatory hurdles could be a problem for the stock.

it got a big pop for the news as sprint working toward a bid for it. mobile u.s. and it could come in the first half the 2014 according to sources. i wanted to just show you a couple of things here. look at how sprint was trading throughout the day. right at the end of the day you could see right there, that big huge pop, right? in the after-hours it is worth noting here that the stock is on the move in the after-hours, up about a buck, okay? so just so you get an idea of how the stock normally moves, well these are the last, what, 15 days? 28 cents. you could also see four cents, 10 cents. 33 cents. shows you that it doesn't really move that way. it really shows you now that it is getting a nice, big pop here in the after-hours on this news. this will be a hot story on monday. back to you. david: it will indeed. a hot story toward the end of the year until it gets done, if it gets done. nicole petallides at nyse.

have a good weekend. stay warm. lori: you have three carriers, at&t, verizon. david: why regulators may put a halt to it. who knows. we'll follow very closely. >> bet. for the second week in a row all major indexes end the in red as investors wait for next week's fed meeting and potential announcement of, tapering. david: with so many investments at their peak value are there any plays for investors who are ready to go off the beaten track? among those who have taken successful bets but appeared at the time to be long shots, few have been more successful than our next guest, chairman of w.l. ross & company, wilbur ross. he is very smart. he is avoiding snowstorm in the northeast being down in florida. i wish i was there with you, wilbur. bottom line is, we can talk, and we will talk about the fed and your concern there with regard to what it is doing or what it may do, i just want to go to some specific bets for a second here. explain and greece. the two real hot points in europe. i am wondering if they have been

beaten down so low wilbur ross is seeing opportunity there even in the banking sector. what do you think? >> we're looking very carefully at both. greece is finally seeming to get its central government budget more or less in order. they are forecasting a primary budget surplus for next year. that means a surplus predebt service. that would be a pretty remarkable achievement for them to make and should lay the ground for further developments that would be very positive. so we think greece is finally starting to show some signs much some real progress. david: and spain? >> spain already, we think has made some very good reforms in labor to a little degree in greece, to a very extensive way

into spain. spain has done a very good job we think removing bad assets from the banks and starting to force them to raise additional capital much. to me the mystery in spain is, when you go around the streets of the big cities, barcelona, madrid, you don't see any beg as. -- beggars. it is hard to imagine the true unemployment is up in the high 20s, yet you don't see beggars. there must be a big gray economy there that disothers upwardly the official unemployment figures. david: right. >> we think spain is probably better off than people think. david: the real free market is very often the black market. that is apparently life and well in those questions, lori. >> seems to. lori: mr. ross, what potential do you see in the united states economy in the new year. know you are bullish on shipping. will you continue and what other industries caught your attention? >> we are continued to be

interested in shipping but you can't just talk in the macro. for example, one our bets is starting to do well, bets navigator, which went public a couple weeks ago at the high-end of the range, 19. we up sized the deal and it has gone up 25% since then. so that segment, the lpg segment, seems to be doing very well. in other segments we've been going into we announced late last night, early this morning, that we're buying in a separate company called diamond s three more petroleum product carriers. that will bring our total to 33, which is onn of the world's largest fleets. and they're basically a bet on shale oil because it's against the american law to export crude oil but it is permitted to export refined products.

so u.s. becoming a very major exporter of refined products. we think therefore that could become a very good segment. david: are you still betting on fracking in china? china has for those who don't know, china actually has more reserves of natural gas that could be obtained by fracking than the united states does. are you still making a bet there? >> we're very interested in the chinese development as are they. in fact, one of the big utility companies that we're working with has a delegation in texas right now, learning more about how the american fracking systems work. so i think it will come in china. it's more difficult geology than what we have here and they also have water problems. fracking takes a about two barrels of water to produce one barrel of hydrocarbon liquids and in many parts of china where there's a lot of natural gas

there's very limited supply of water. so they're particularly interest in water-free or reduced water usage mechanisms for fracking. and that's part of the purpose of this trip they're on now. lori: mr. ross, what are some of your major concerns for investing in economics in the new year? >> well, you have to worry about government and i kind of lump federal reserve together with government although i guess you could say they're not technically part of it. i personally do not think that janet yellen is going to do anything very precipitous. i think she will be slow to make changes and when she does i would wager that they would be very, very gradual. maybe something as gradual as cutting it back from the current 85 billion a month by perhaps five billion a month over a

17-month period which should be a very, very gradual easing of thing. david: right. >> i think that kind of a thing wouldn't cause any big economic upset. david: wilbur, have to ask you just one more question. new survey out from duke university. 48% of u.s. cfo's who were surveyed said they will be reducing employment because of obamacare. how big of a hit will the economy take of the rollout, the further roleout of obamacare? >> as you know i've been very negative on obamacare and i think what a lot of us cfos really mean is people that had been working 40-hour weeks will now be dropped down to 29 because at the 30 hour work week that the obama care kicks in. so i think that's what they really mean, more than just firing people. now for the people working in fast-food and industries like

that, that's a serious problem because if you take them from 40 hours to 29, that's a about a 25% decrease in their pay. david: yeah. >> so that could be a big hit. david: okay. i'm sorry to cut you off there but our satellite is dying. you know what that means of the we see a blank screen. wilbur ross. we want to see more of you. good to see you. >> okay, thank you, bye-bye. david: sudden u turn by twitter after a barrage of protests by users. details when we come back. and i. but your erectile dysfunction - it could be a question of blood flow. cialis tadalafil for daily use helps you be rea anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the ly daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity.

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david: well there's a deal cooking un. two of the largest dealers in telecom are thinking of working together instead of as competitors. sprint and t-mobile, are looking to make some kind of a deal

together that would make them a huge telecom company. in fact there would only be three large telecoms if regulators allowed this to happen. this merger. we have gerald halloran has been bullish on sprint recently. he has a 10.30 price target. it is trading nine bucks right now. gerald, what do you think about the possibility of the deal? >> i think it should be fairly interesting deal and accretive to sprint assuming the bid is around the stock prices. i think it leaves verizon holding a bit of a bag. lori: what do you mine by that? if you look at only three players in the telecom space everybody's first question is regulatory hurdles here. >> certainly. you have two farely weak competitors. this is way of making a stronger one. i suspect regulators may have a different point of view on this than say the at&t-t-mobile deal.

david: your 10.30 price target on sprint without knowing about this with this deal if it takes place change everything in terms of your own price targets? >> would certainly depend on the price where the deal would come. lori: okay. >> the thing about verizon, so you know, t-mobile has been in negotiations to buy of some of verizon's 700 megahertz spectrum from the a-block. that would have been a multibillion-dollar deal. if the deal with sprint goes through, they're not going to need that spectrum. david: interesting. lori: okay. so then what are the hurdles or what's the likelihood perhaps you see of this thing happening? i think there are some headlines this could happen midway through next year? >> i would not be surprised by this deal at all, particularly given the valuation disparity between the two companies. sprint does offer higher multiple of ebitda than t-mobile. i think that sprint would like to get as much market share as

possible. i suspect but don't mow that the fcc would feel pretty good about this deal because it would create a competitor that was strong as or a better fighter against at&t and verizon. david: interesting. although you wonder because they pushed back on the airline mergers even though they finally took place whether they would push back in this area. >> yeah, you do. the thing is, that even together, combined, this company would have fewer customers than either verizon or at&t. and i think that's going to be one of the big measures they look at, what are the customers, how many customers. david: gerard, forgive me for calling you gerald. we got the name wrong from janko partners. thanks for coming on in short notice. >> happy to do it. lori: call it venture capitalist fun in the movie industry. we speak with ceo hyped a company that gives awe chance to share in the glitz and grammar of movies like upcoming stone

gap. david: wolfgang puck was one of original culinary chefs. "wall street journal" celebrity reporter will tell us about a rare interview with puck he had in a few minutes. ♪ ya know, with new fedex one rate

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the answer is. 3 million homes. by 2030, investments in energy efficiency could help americans save $300 billion each year. take the energy quiz. energy lives here. it's not the "fumbling around with rotating categories" card. it's not the etti blindsided by limits" card. it's the no-game-playing, no-earning-limit-having, deep-bomb-throwing, give-me-the-ball-and-i'll-take- it-to-the-house, cash back card. this is the quicksilr cash card from capital one. unlimited 1.5% cash back on every purchase, everywhere, every single day. so let me ask you... at's in your wallet? lori: hollywood sure is a glamorous industry at least it appears to be from the outside but also has a reputation for

being a very cutthroat industry as well. with only 4% of movies getting distribution is the film industry too risky for an investor? david: one man believes he found the solution. he says he can offer 100% film distribution. his company's new movie, "big stone gap," due out next year. generated buzz with big stars like ashley judd, whoopi goldberg. we have the president media society and ceo. congratulations you're not from this industry originally. you are a money making guy who likes films and theater. how can you possibly, when ever i hear 100% guaranty i think of all the promises made in the past that have fallen through. how can you possibly guaranty that? >> distribution is kind of simple. it is really two things. having print and advertising capital, p and a capital at hand to drive consumers to a theatrical venue and having a product. that is what we combine together. david: also getting theaters

agree to show the product. >> if you have any type of product product, theaters are have the next big success.s to if you will drive consumers to their theater they welcome you with open arms. lori: how are you doing in bringing in investors? as you know it's a tough economy out there. >> it's a unique situation. media society has been aggregating great affluent individuals in our membership community. these are people really looking to have an experience on top of a great managed risk mitigated risk investment opportunity. so they come to us really in droves. they like the opportunity and they want to participate. lori: is there minimum investment? can anybody get on board? >> no. you need to be an accredited individual and the average investment -- david: accredited in what way? what are the criteria. >> million dollar net worth exclusive of your primary residence. most of our individuals are five

million and up. these people generally do at a minimum, $150,000 to invest in a diversified slate prove projects that are filmed, broadway, all different types of entertainment. david: how many do you have? how many of these investors? >> we have several thousand in our database right now. david: wow. lori: in other words you're investing in or you're producing a whole bunch of different content right? like movies, broadway theater? >> yes. >> it is almost like a bundledded fun, right? some will be possible and others won't? >> a different explain prove projects. the slate we're doing now will have three feature films at least and has a broadway production that concludes up in january. now we're selling the foreign rights to it. david: now, in one of the pieces written about what you do, says by attracting the right talent hopes to reduce the risk that is a project will bomb and leave his investors holding the bag. lori: yeah. david: every film studio wants to do that. every filmmaker wants to do

that. every producer wants to do that. so what makes, i understand your formula, but sometimes, you know, the best people, peter guber, david mamet, you ask these folks what guaranties success, they say nothing. sometimes you can have eveeything, all your ducks lined up right and it still bombs. >> really what is necessary is diversification. you can't guaranty a particular project is going to work. you can mitigate your risk by having great quality talent, doing foreign presales, lower the cost, get rebates from the states, lower your costs even further but it is really about diversifying through number of opportunities. david: by the way, lowering costs. you're on to something there. when i ask producers about the key, what is really wrong with their industry, they will always say costs are just out of control. they're ridiculous. little things. go on movie set you see, a bottle of water and they buy it from a company that sells it for 10 bucks each. you add all that up, it means

10 million-dollar movie ends up costing 100 million. >> we do it the other way. we make a 10 million-dollar movie and costs about maybe a million net. that is by really doing, being precise. being methodical. being disciplined and having everyone on board on the same path. that's how you can do it. lori: how are city, states, even receiving the entertainment industry these days? are there benefits. do you shop for the best locations depending on tax benefits is or is that -- >> general i you do. there are great benefits and getting more and more competitive. >> hollywood -- >> yeah. they, so everyone's really looking at the areas. virginia gave us over 30% credit and, in cash to make the film in virginia. and it is based there, the actual story but a lot of films are based in new york or based here or based there and you have to go to where you're going to get the best possible

opportunity and mitigate your risk. david: best of luck to you. wade bradley. good to see you. you have thousand investors. lori: wade bradley, identity studios president and media society ceo. david: the mere mention of wolfgang puck getting people salivating. lee hawkins from the "wall street journal" sat down with the reknowned chef to talk about the economy with wolfgang puck. lori: maybe president obama's new year's resolution should be clean up the health care mess. how many deadlines will the white house have to bend to make obamacare work? the latest on that one coming up. ♪ ♪ [ male announcer ] how could a luminous protein in jellyfish, impact life expectancy in the u.s., real estate in hong kong, and the optics industry in germany?

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restaurant 30 years ago and today he has a global empire. lee hawkins from the "wall street journal" sat down with him and asked him how he built the spago restaurant. it is still a private company. talk about the guy first. >> right. >> fascinating man. he never went to high school, right? >> never did. david: came here when he was 26 from france or from europe. >> yes. david: and how did he do it, how did he build his empire? >> started out in new york and went to indianapolis when he realized he wanted to be here in the united states. but the key here he calls kept cooking first. has never been one of these people that have gotten ahead of themselves in terms of wanting to diversify their brand vertically and horizontally before building a brand as the best chef in the business. david: so nobody could ever question the quality of what he was doing? that was, he had to get, make sure his quality was unquestionable. >> right. david: before he could expand.

>> it is quality of what he did has gotten him to this point. that is what a lot of people don't understand what they thrust themselves into reality tv and want to do these other things. but for him the guy never even wears a suit around spago. he is always in a chef's uniform. going out meeting customers, hearing what they want to hear. what they like on the menu, things like that. he is personality of that whole franchise. david: this is before there were celebrity chef shows on television. before cable tv when he got started there were people like julia childs obviously, james beard and others but he is the first one to become a celebrity chef in a commercial sense, right? >> yes. it was really in france when chefs became personalities and had their own restaurants. he got that cue. he said, you know i will do that in the united states. he initially was in monaco and wanted to be a race car driver. he didn't have the money to really do that and came here. hey, he made it happen. david: now he started spago, i

was interested to know he tried japan and that didn't work out. the japanese were going to take his brand, use it. he instead, let me make a deal with you. they tried it for a couple years in japan and didn't work. >> yes, but the real funny thing about that, they came to him initially. he said, no, i don't want to do it. i don't think that would be right for my brand. david: he was right. >> they came back to him nine months later said we'll do it without you. he didn't have the money to fight the lawsuit. so he had that instinct in the beginning, hey, maybe i don't want to expand too far. david: just shows you successful people are very often have failing policies but they turn it around. that is a question, not whether you don't fail because everybody fails. question is how you turn around a bad situation. licensing. >> yes. david: he knew giorgio armani. he liked the armani model f licensing. he copied it. how? >> he understands his name is inextricably tied to his business. david: look at all of them.

>> he has done a lot of licensing. he has a lot of licensing including in airports. that is where the problem lies. i think a lot of celebrities i interview are very eager to expand. he has been more measured in his. there has to be a point where you lose control of the brand. what he is able to do to make sure in the airport restaurants he makes all the iretty hard tos up. with the big hotels where he has restaurants, he manages those 100%. david: is it fair to say though he has reached this size where if he gets any bigger, he will lose a certain amount of control? certainly if he has an ipo, if he tries to go public from this 400 million-dollar private operation he has lose some control. >> i think wolfgang is intuitively aware of that. david: he is could easily be worth 200 million with a ipo. >> i don't think he is agreed did i guy. even explained to me had a

harvard businessman running his operation and the guy almost put him out of business. so he's really intuitive about how far he wants to go with his business and i think if he went public it would be a very cautious move that he would take. he's a very brilliant guy. david: what did the harvard guy want hill to do? >> i don't know what he wanted him to do. i think idea of day-to-day operations and probably wanting to expand into things he is not qualified to go into. david: ladies and gentlemen, sometimes a guy who never went to high school knows a hello of a lot more about business than a harvard business grad. that is one of those kises. >> an american success story. david: it is. he is a european but had real success here. great story. >> thanks a lot, david. david: lori, over to you. lori: well the obama administration is getting even more flexible over its interpretation of the rules in the affordable care act. next, we'll find out how this could impact the whole health insurance industry. and megastar kanye west, he can check yourself before you wrecked yourself. why this is sparking a internet

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david: with millions losing their health care coverage under

obamacare, less than 400,000 people signing up for new coverage, the obama administration pushed back another key deadline. lori: what does it mean for insurers and folks looking for coverage? rich edson in washington with the latest details. >> the change gives them more time to sign up for insurance and the administration is asking insurance companies to cut customers slack on payment deadline. americans can choose a plan by december 23rd. insurance companies must cover them on january 1st. the deadline was december 15th. the administration asks insurance companies to accept partial payments in january in exchange for full coverage on january 1st. and encouraging insurers to treat out of network expenses as in-network. given the botched rollout of the law, one reporter asked hhs secretary kathleen sebelius this morning whether she offered president her resignation? >> i will not discuss what i talk about to the president. >> the president has confidence in secretary sebelius and appreciate the work that she's

done and she, like every member of her team, engaged in effort is focused every day on making fixes to the website or making improvements in the implementation of the exchanges. >> administration officials had expected more than three million americans would have signed up for obamacare by the end of this month. officials say, fewer than 400,000 had by the middle of this week. back to you. david: a 90% failure rate. again, what business in the world would accept anything to hear that? rich edson, very much. lori: good comparison. qualcomm promoteses it number two executive to the top job ending speculation if he could be the next microsoft ceo. we asked you on facebook who should replace steve ballmer. we'll read some of your comments next. david: beyonce fans going crazy as superstar shocks the world with unof the best kept secret's

in the music industry's history. what is that? details coming up. ♪ my customers can shop around. but it doesn't usually work that way with health care. with unitedhealthcare, i get information on quality rated doctor treatment options and cost estimates, so we can ke better health decisions. that's health in numbers. unitedhealthcare.

every day we're working to and to keep our commitments. and we've made a big commitment to america. bp supports nearly 250,000 jobs here. through all of our energy operations, we invest more in the u.s. than any other place in the world. in fact, we've invested over $55 billion here in the last five years - making bp america's largest energy investor. our commitment has never been stronger. but with less energy, moodiness, and a low sex drive,y first. i saw my doctor. a blood test showed it was low testosterone, not age. we talked about axiron. the only underarm low treatment that can restore t levels to rmal in about 2 weeks in most men. axiron is not for use in women or anyone younger than8

or men with prostate or breast caer. and children should avoido are contact where axiron is applied as unexpecd signs of puber in children or changes in body hairr increased acne in women may occur. report these symptoms to your doctor. tell your doctor about all medical conditions and medication serious side effects could include increased risk decreased sperm count; ankle, feet or body swelling; enlarged or painful breasts; problems breathing while eeping; and blood clots in the legs. common side effects include skin redss or irritation where applied, increased red blood cell count, headache, diarrhea, vomiting and increase in psa. ask your doctor about axiron. melissa: let's bo off the desk. beyonce surprised the world what she called the first visual album and nearly crashed itunes because of huge number of drone loads. each of the 14 tracks is video

attached to it. there are 17 music videos shot in location around the world. youtube released 30 second clips. they have already gone viral, reaching more than 200,000 views. david: yeah. i thought it was going to be something better secret than that, darn it. at any rate. oh, well. also "off the desk," a ohio police chief officer is well-versed in written open letter to kanye west blasting comments comparing himself to police officers and military personnel. the police chief is known for using the facebook page to scold criminals. he has more than 98,000 followers. >> i bet. david: the police chief calls on west to join the military in his open letter and says, quote, you could quite possibly end all wars just from the enemy being star-struck. he ends the letter saying, check yourself before you wreck yourself. >> well-said.

time for top three things to watch next week. number three will be the november print on existing home sales, set to be released thursday, 10:00 a.m. eastern. economists expecting sales to drop by 1 1/2% to seasonally adjusted rate of 5.1 million. sales fell 2.3% in october. david: number two will be the third reading of third quarter gdp. set to be released friday at 8:30 a.m. eastern time. economists expect gdp to increase at an annual rate, a lot bigger than it was last quarter. 3.6% this is in line with the quarter's private reading. it is an increase over the second quarter's growth rate annually of 2.5%, a big increase. >> one guess to number one thing we'll be watching next week or person. there he is. ben bernanke. federal reserve policy meeting and news conference. that is wednesday. investors listen closely to chairman bernanke on any hints of the federal reserve taper timeline. some investors think the fed could begin scaling back the

bond buying program early next week. david: the story we've been watching about the past hour is this story about a possible merger between sprint and t-mobile. of course they were bitter rivals. for them to join forces would create i guess about the third largest mobile company in america right now and that of course has regulators concerned that perhaps there would be too few mobile carriers if they did merge. it is only in the beginning phase, these discussions but it could lead to a $20 billion company affecting millions and millions of people. >> absolutely. we'll keep an eye on that indeed. all right. so you have got all of that news and we close out the week, it was the second week of losses for u.s. equities. as everybody's in kind after wait and see not sure what to expect ahead of next week's fed and what to watch next week. david: by the way liz claman had an interview with the head of t-mobile, and cfo of t-mobile. we'll put that online.

"after the bell" on the facebook page and you san see more of that. we'll stay in touch with this story throughout the weekend. let you know the latest on monday. meanwhile now. >> thanks for lettings me sit? david: thanks for being here. >> "money" with melissa francis is next. >> much maligned wealth gap. maybe not such a bad thing after all. stats show countries with a bigger income gap have faster-growing economies. maybe the gap is actually a good thing. we'll tell you what even when they say it is not it is always about money. dennis: i'm dennis kneale in for transfrance tonight. president obama has decided to vote to narrow income inequality and claims it is the biggest challenge of our